Third, the only predicted preference patterns that are not rejected, are the ranking of the gambles by decreasing winning amount (abcde in Cash I and ABCDE in Cash II), and the ranking of the gambles by increasing probability of winning (edcba in Cash I and EDCBA in Cash II).

These two rankings are also consistent with simple heuristics according to which decision makers either ignore probabilities or outcomes for lotteries like these. The Cash I and Cash II stimulus sets were not originally designed to be diagnostic for a full-fledged test of Cumulative Prospect Theory, hence, we leave it for future work to determine the performance of.